Sportsbooks favor Rays to win World Series
Sean Van Patten at Las Vegas Sports Consultants says the Rays are favored at minus-$1.35, meaning a gambler would need to bet $1.35 to be paid $1 if Tampa Bay wins. The Pillies are offered by sportsbooks at plus $1.15, if they win you win $1.15 for every $1 wagered.
Amazing how things have changed in the space of 6 months! At the start of the season it was 200-1 the Rays would win the title. Van Patten said that they are trying to prevent even more Tampa Bay money coming in and getting a little buyback on the Phillies.
Jay Kornegay of Las Vegas Hilton race and sportsbook says that the long-shot prices at the start of the season will definitely have an impact on sportsbook operators but not enough to shut down operations. He did not mention how much the sportsbook would lose if the Phillies pull it off but he did mention that other sportsbooks are offering even longer odds on the Rays winning a championship.
In 1991 sportsbooks lost millions of dollars on futures bets when the Atlanta Braves and Minnesota Twins rebounded from last place and reached the World Series. Kornegay says that sportsbooks have learnt from the experience and no longer open teams at 500-1 before the start of the season.